Passenger cars, utility vehicles to become costlier from January

Exact amount of the model-wise hike in prices will be announced in phases by different companies in view of increasing input cost, prices of commodities

Car Prices

New Delhi: Come January and all range of cars and sport utility vehicles (SUVs) in the country will become costlier. Industry reports hint that all carmakers including Tata, Honda, Maruti, Audi India, Mahindra and Mahindra and Mercedes-Benz are planning to increase prices of their passenger cars from next month.

Following the announcements from Tata Motors and Mercedes-Benz last week, Honda Cars India on Sunday said that it was contemplating increasing the prices of its vehicles from January. Company officials said that they were looking for raising the price of all its vehicles in order to partly off set the impact of riding cost of input.

Also Read: Tata Motors to hike passenger vehicles’ prices from May 1

“The company is planning to increase the price of all its car models from January next year due to pressure on input cost,” said the Japanese car maker’s vice president (marketing) Kunal Behl in an interaction with mediapersons. Currently, Honda India sells Elevate, City and Amaze brands.

The official said that exact amount of model-wise hike will be decided and announced by the company by the month-end. The company had launched new model, Elevate, last month at an introductory price. The product, which come feature-rich, has been received well in the market with very high customer consideration. “The introductory price will remain valid till December and revised price could be announced next month,” said Behl.

Suzuki, Mahindra & Mahindra and Audi to jack up car prices

Car prices are showing no signs of slowing down. After Maruti Suzuki and German luxury car maker Audi India Monday announced the increase in prices of their vehicles from January next year. These companies have attributed various reasons to justify the increase in market price to input cost, overall inflation and increased commodity rate.

Also Read: Mercedes-Benz records 28% sale jump in India during Jan-Sept

Tata and Mercedes-Benz India also looking to increase prices

Recently a Tata Motor’s spokesman said that the carmaker will be raising the prices of all its passenger and electric vehicles from January 2024. He said that the extent of hike and exact details will be announced in a few weeks.

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